Fast Company magazine listed Sacramento-based tech entrepreneur Sheri Atwood as one of 2017’s 100 most creative people in business for her digital SupportPay platform. It reports, tracks and processes child support payments.
The magazine’s editors said they sought inspiring leaders whose inventions would shape the future of business. Right now, SupportPay is used by more than 42,000 parents, but the potential market is vast. In an interview last year with Atwood, she told me that roughly 55 million parents pay about $230 billion in support payments annually in the United States, and 70 percent of those parents must manage all aspects of this task themselves because no government agency monitors their divorce arrangements.
A divorced mother, Atwood had become intimately acquainted with the difficulty of tracking all the payments, receipts and other paperwork. She figured there should be a program to do it, and when she couldn’t find one, she quit a lucrative corporate job at Symantec to develop it in 2013. Atwood, who moved her company to The Cannery business park in East Sacramento last year, has raised more than $4.1 million in venture capital to market and expand her business.
Atwood was unavailable for an interview Monday, but in Fast Company’s June issue, she said, “The ultimate goal is taking the kid out of the middle and looking for a way to keep both parents involved.”